What Does -120 Mean in Sports Betting: Understanding Betting Odds
In sports betting and gambling, -120 is what's known as American odds, indicating how much money you need to bet to win $100. When you see -120, it means you must wager $120 to win $100 in profit (plus your initial stake back).
Let me break this down with a simple example:
- You bet $120 at -120 odds
- Your team/selection wins
- You receive $220 back ($120 stake + $100 profit)
The minus sign (-) before the number always shows you're betting on a favorite. The larger the negative number, the more likely that outcome is expected to win, according to the oddsmakers.
This differs from positive odds, which show how much you'd win on a $100 bet. For example, +120 means a $100 bet would win you $120 in profit.
To calculate smaller or larger bets at -120 odds, use this formula: - For a $10 bet: (10 × 100) ÷ 120 = $8.33 profit - For a $50 bet: (50 × 100) ÷ 120 = $41.67 profit
It's worth noting that -120 is considered relatively modest odds in gambling terms. You'll often see odds like -110 (standard for point spread bets) or much higher numbers like -300 for heavy favorites.
Remember: The higher the negative number, the more you need to risk for a $100 profit. For instance: - -120 requires a $120 bet to win $100 - -240 requires a $240 bet to win $100 - -500 requires a $500 bet to win $100
Understanding these odds is crucial for responsible gambling and making informed betting decisions. Always ensure you're comfortable with the amount you need to risk before placing any bets.